UBS
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Beijing Automotive Group printed Rmb1.5bn ($243m) for its debut international bond on May29. The unrated automaker’s close ties to the Beijing Municipal government helped its three year issue to build a strong following with investors. -
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The primary covered bond market is set to pick up next week, with deals from issuers in the UK, Germany and New Zealand in the offing. Yorkshire Building Society announced its intention to go on the road and bring its first euro deal in five years, Westpac New Zealand has said it also launch a roadshow next week to market the first covered bond since the country enacted a legal framework and Dexia Kommunalkreditbank is set to return with its first deal since 2011.
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Polish cable firm Multimedia Polska pulled its IPO on Wednesday night, as the pension fund reform that larger deals had swatted off came back to hurt it, alongside a general lack of excitement around the deal.
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Joyful Horizon, an affiliate of Chinese private equity firm Hony Capital, sold HK$3.75bn ($484m) of shares in CSPC Pharmaceutical Group on May 26.
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UBS has promoted Matt Hanning as head of its corporate client solutions (CCS) Asia Pacific, replacing Matthew Grounds, who will focus on Australia as the bank replaces its top tier management for investment banking and reshuffles its leadership team for Australasia.
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Chinese car maker BYD Company’s strategy to focus on size rather than price helped it raise HK$4.3bn ($550m) from the issuance of primary shares on May 23, an increase from the target of HK$3.2bn. Books were covered before launch, but the company still priced the trade at the bottom of its marketed range.
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China’s largest container port operator for crude oil and iron ores, Qingdao Port International, started receiving bids for its HK$2.92bn ($377m) IPO on May 26. But with a fixed price, a shortened three day bookbuild and a covered book message, investor participation is expected to be limited for this friends and family IPO.
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Bank of Communications sold its first ever Swiss franc debt on Tuesday, a three year note. The issuer, which was able to double its target size, is just the second issuer from China to access the Swiss debt market.
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Joyful Horizon, an affiliate of Chinese private equity firm Hony Capital, sold HK$3.75bn ($484m) worth of shares in CSPC Pharmaceutical Group on May 26.
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Chinese car maker BYD Company’s strategy to focus on size rather than price helped it raise HK$4.3bn ($550m) from the issuance of primary shares on May 23, an increase from the target of HK$3.2bn. Books were covered even before launch, but the company still priced the trade at the bottom of its marketed range.
